A certain brand of upright freezer is available in three different rated capacities: 16 ft3, 18 ft3,
Question:
a. Compute E(X), E(X2), and V(X).
b. If the price of a freezer having capacity X is 70X - 650, what is the expected price paid by the next customer to buy a freezer?
c. What is the variance of the price paid by the next customer?
d. Suppose that although the rated capacity of a freezer is X, the actual capacity is h(X) = X - .008X2. What is the expected actual capacity of the freezer purchased by the next customer?
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Related Book For
Probability And Statistics For Engineering And The Sciences
ISBN: 9781305251809
9th Edition
Authors: Jay L. Devore
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